Tagged : Steamboat Condo Auction

Found 2 blog entries tagged as "Steamboat Condo Auction".

Update 11-14-12: The second Trailhead Lodge Steamboat Auction was announced a few minutes ago.  It will happen on Saturday Dec 15th. Looks like my prediction came to pass. Call me for more details. I can show you what they sold for before, what they are worth now and which ones are available. No one else has the combination of the info and insights I have combined with representing your interests.  Just call me to see.

See more on the New Steamboat Auction Here

  It's November and Silverleaf pulled the condos they own in Trailhead Lodge at Wild Horse Meadows off the market a few days ago.  Last fall they bought the debt to get the unsold condos, sold a few at high prices, then did little to sell more. The Trailhead Auction this spring was the result.

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   This is a very surprising twist given they just bought it months ago.  I expect there is something else going on here as most thoughtful business people would adjust in other ways to stimulate demand before taking such a desperate measure and such an adjustment hasn't been made here before this.  Existing owners probably won't like the prices the condos bring but at the same time once they sell, the inventory overhead will be gone and a year or so later they will probably sell for closer prices that compare to similar properties than the auction prices. It will be a reserve auction but there are likely to adjust this in real time depending on demand.

  Hopefully this is a good thing in time but in my opinion it shows that the group that bought

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